Gateley “seeing the benefits” of being UK’s first listed law firm
Gateley is seeing the benefits of being the first UK-listed law firm, its chairman said today as it announced record turnover.
Revenue increased 10.2% to £67.1m in the year to 30 April 2016, with profit before tax up 12.2% to £11m. As a result shareholders are to see a final dividend of 3.764p, making a total over the year of 5.639p.
In today’s announcement to the stock exchange, chairman Nigel Payne said “our new and more flexible Plc structure” had enabled the AIM-listed firm to deliver on its three prong strategy: to differentiate – “through our comprehensive service offering and service ethic” – diversify, with the acquisition of tax incentives advisory business Capitus earlier this year, and incentivise staff by offering wider and earlier equity.
“These strong results, together with the successful IPO and the encouraging start the group has made in its journey have also helped raise our profile and enhance our brand, differentiating us from our competitors and attracting quality staff who are interested in benefiting from the opportunities provided by a structure which we believe is far better suited to the legal landscape of today.”